Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Man escapes DUI charges by downing bottle of soju while pulled over
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Pay debate plagues foreign nanny pilot
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K-pop star lip-syncing controversy flares up again
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35% of S. Koreans view unification 'unnecessary'
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Slew of top K-pop stars ready to return from military
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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[Reporter’s Notebook] Was Netflix film opening BIFF really a bad thing?
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Controversial cult leader’s sentence reduced to 17 years
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Biz circle hails pardons for convicted businessmen
South Korea's business community welcomed special presidential pardons granted to convicted business leaders on Thursday, saying that it will join government efforts in boosting the domestic economy. Some still expressed disappointment with what they see as the smaller-than-expected scale of the special pardons for business people, apparently citing the exclusion of a high-profile business leader from amnesty. President Park Geun-hye granted special pardons to 14 businessmen and more than 6,5
IndustryAug. 13, 2015
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Ex-President Chun's son gets suspended jail term for tax evasion
The Supreme Court sentenced a son of former President Chun Doo-hwan Thursday to three years in prison with a four-year stay of execution for tax evasion in a land deal. Upholding a lower court ruling, the highest court handed down the ruling to Chun Jae-yong, the second son of the former president, for colluding with his uncle to dodge 2.7 billion won ($2.3 million) in transfer taxes in selling a plot of land in Osan, Gyeonggi Province, 55 kilometers south of Seoul, in December 2006. The court
PoliticsAug. 13, 2015
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Park's pardons include SK chief; Hanwha chief excluded
President Park Geun-hye granted special pardons Thursday to a high-profile businessman and more than 6,500 people ahead of Liberation Day. "I decided to grant special pardons in order to help forge national reconciliation and revitalize the economy, as well as boost people's spirits," Park said in a Cabinet meeting. The beneficiaries included SK Group Chairman Chey Tae-won, but Hanwha Group Chairman Kim Seung-yeon was excluded, Justice Minister Kim Hyun-woong said. The total number of benefic
PoliticsAug. 13, 2015
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Park pardons SK chairman
President Park Geun-hye on Thursday granted special pardons to thousands of Koreans convicted of minor crimes and millions who received administrative penalties as part of efforts to achieve national unity ahead of the Aug. 15 Liberation Day.The president also exercised her special power to pardon 14 high-profile businessmen including SK Group chairman Chey Tae-won who was imprisoned for more than two years for embezzlement. The list of 13 other businessmen included Hanhwa vice chairman Kim Hyun
PoliticsAug. 13, 2015
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Japan's Lotte Holdings wholly owns investment arms
Tokyo-based Lotte Holdings owns a 100 percent stake in investment units in Japan that are believed to be at the apex of the retail giant Lotte Group's complex ownership structure, a report showed Thursday. Lotte Holdings, the ostensible holding company of Lotte affiliates in Japan and Korea, holds a 100 percent stake in some 12 subsidiaries of the investment company, dubbed "L Investment Company," according to the report compiled by South Korea's Lotte Group. Shin Dong-bin, the chairman of Seo
IndustryAug. 13, 2015
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S. Korean steelmakers face anti-dumping charges in U.S.
South Korean steelmakers have been sued by U.S. rivals in the United States on anti-dumping charges, a trade association said Thursday. U.S. Steel, AK Steel and four other steelmakers filed the anti-dumping suit and countervailing duty penalties against hot-rolled steel plates produced by Korean steelmakers, according to the Korea International Trade Association. The suit filed with the U.S. International Trade Commission and the Department of Commerce said that the Korean products received d
IndustryAug. 13, 2015
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S. Korea must complete labor market reform by year's end: finance minister
South Korea must complete labor market reform by the end of the year to help young people find jobs and raise the country's overall competitiveness, the top economic policymaker said Thursday. In a meeting with lawmakers from the ruling Saenuri Party in Seoul, Finance Minister Choi Kyung-hwan claimed that reforming the country's rigid labor rules and allowing for more flexibility can give hope to the younger generation who are facing tough challenges. The slowdown in growth and the move to rai
Aug. 13, 2015
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Daum Kakao Q2 net more than halves on increased costs
Daum Kakao Corp., the operator of South Korea's top mobile messenger, said Thursday its net profit more than halved from a year earlier due largely to increased marketing costs for newly launched services. Net income reached 21.4 billion won ($18 million) in the April-June period, down 62 percent from 55.9 billion won the previous year, the company said in a statement. The figure fell far short of the median consensus of 37.1 billion won in a poll by Yonhap Infomax, the financial news arm of
IndustryAug. 13, 2015
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S. Korea to maintain pressure, dialogue with N. Korea
South Korea will maintain a two-track approach of pressure and dialogue in dealing with North Korea, Cheong Wa Dae said Thursday. "The two major pillars of our policy is retaliation against provocations and a persuasion effort for peaceful cooperation," presidential spokesman Min Kyung-wook said. The comments illustrated South Korea's latest efforts to engage with North Korea to keep peace on the divided peninsula and eventually push the isolated country to join the international community. P
North KoreaAug. 13, 2015
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BOK holds rate steady at 1.5 pct in Aug.
South Korea's central bank on Thursday left its benchmark policy rate steady at 1.5 percent as widely expected, amid growing concerns over the country's bulky household debt. The Bank of Korea has been keeping the rate unchanged for two straight months following a surprise rate cut in June that was aimed at fending off the economic fallout from the Middle East Respiratory Syndrome. The decision is in line with a poll by Yonhap Infomax, the financial news arm of Yonhap News Agency. All 11 analy
Aug. 13, 2015
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NK vows to retaliate against S. Korea, U.S. over upcoming military drill
North Korea threatened Thursday to retaliate against South Korea and the United States with "merciless blows" as Seoul and Washington are scheduled to kick off their joint military drill next week. South Korea and the U.S. plan to start the 10-day Ulchi Freedom Guardian exercise Monday, which North Korea calls a "grave provocation," a rehearsal for an invasion and a de facto declaration of war. In a statement, the North's foreign ministry urged the allies to immediately drop the plan for the m
North KoreaAug. 13, 2015
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S. Korea logs trade surplus for 42nd month in July
South Korea posted a trade surplus for the 42nd month in a row in July as imports dropped at a much faster pace than exports, customs data showed Thursday. According to the data by the Korea Customs Service, the country's trade surplus reached $7.72 billion last month, up significantly from $2.34 billion the year before but smaller than the $9.91 billion reached in June. Exports contracted 3.4 percent on-year to $46.56 billion in July, while imports nosedived 15.3 percent to $38.84 billion. In
Aug. 13, 2015
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N. Korea likely to increase uranium production to expand nuclear arsenal: U.S. expert
North Korea has been refurbishing a major uranium mill, an indication the communist regime is preparing to increase uranium production to either expand its nuclear arsenal or produce fuel for light water reactors, a U.S. expert said Wednesday. Jeffrey Lewis, a nonproliferation expert at the James Martin Center for Nonproliferation Studies, said in an article on the website 38 North that the Pyongsan Uranium Concentration Plant in southern North Korea has been undergoing "significant refurbishme
North KoreaAug. 13, 2015
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Park to visit U.S. in October for talks with Obama
President Park Geun-hye plans to visit Washington in October for talks with U.S. President Barack Obama, both sides announced, after rescheduling a trip postponed due to the MERS outbreak in South Korea. The two leaders are set to meet on Oct. 16 to discuss a wide range of issues, including bilateral alliance and North Korea's nuclear weapons programs, Cheong Wa Dae spokesman Min Kyung-wook said. "The summit is expected to serve as an occasion to reaffirm the strong, dynamic and evolving allia
InternationalAug. 13, 2015
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IS claims to have beheaded Croatian hostage in Egypt
CAIRO, (AFP) - The Islamic State group claimed Wednesday to have beheaded a Croatian hostage abducted in Egypt, posting a purported picture of the victim's body on IS-affiliated Twitter accounts.The Croat, Tomislav Salopek, was abducted last month west of the capital Cairo. The jihadists had issued a 48-hour deadline that ended last Friday threatening to kill him if Muslim women prisoners were not released from Egyptian jails.The picture's authenticity could not be immediately verified.His abduc
World NewsAug. 12, 2015
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Kenya comes to life in new exhibition
The beauty and reality of Kenya is captured in “Stories on Kenya,” an exhibition at Gana Art Space by artist Nam Eun-ju. Nam, a former professor of fine arts at Dong-A University, has long explored the culture and wilderness of Kenya in her oil paintings since her first visit there in 2001.Her work is characterized by the use of warm, vibrant colors that radiate with the region’s vivacity. Nam’s Kenya is one of rich variety and energy, with a pervading sense of harmony among human beings, nature
CultureAug. 12, 2015
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[Kim Ji-hyun] Face the music, old boys
Celebrity chef Baek Jong-won is on fire. The man is currently one of the nation’s most sought-after cuisiniers, hosting several TV cook shows and running a chain of successful diners. The best thing about him is that he actually knows what he is talking about. His recipes are easy to follow and they really work. However, while I agree that Baek is a hardworking man who deserved to become famous, I cannot help feeling that he also happened to be in the right place at the right time.Baek came ont
ViewpointsAug. 12, 2015
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S. Korean university hospital hacked by N. Korea: police
The computer network of a university hospital in Seoul has been hacked by North Korea and neglected for about eight months, police said Wednesday. The National Police Agency (NPA) said the North had hacked the central control system and a manager's computer of the hospital, whose identity was withheld, in August 2014, obtaining full control over the network. When the police acknowledged the incident in April 2015 and informed the hospital, the hospital was not even aware of the incident, polic
Social AffairsAug. 12, 2015
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Kim Jong-un had vice premier executed with gun: sources
North Korean leader Kim Jong-un ordered the execution of the country's vice premier by shooting earlier this year, sources said Tuesday, in another sign of the leader's reign of terror.Vice Premier Choe Yong-gon, 63, was executed in May as he had expressed discomfort against the young leader's forestation policy, according to the sources.The Unification Ministry declined to confirm the speculation, but it is on the lookout for what has become of the vice prime minister due to his absence from th
North KoreaAug. 12, 2015
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Hotel Lotte likely to become holding firm
The soon-to-be listed Hotel Lotte is likely to become a 20 trillion won ($19 billion) holding company for Lotte Group in Korea, going solo from its Japanese sister companies. The company is also likely to merge with Lotte’s flagship retail arms in order to reinforce the domestic governance structure, market watchers suggested Wednesday, a day after Lotte chairman Shin Dong-bin announced the yet-unscheduled initial public offering of Hotel Lotte.“Once listed, the company is expected to be worth m
IndustryAug. 12, 2015